Legislative Costing Note
Eliminating Interest on Federal Student and Apprentice Loans
Nov 28, 2022
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Eliminating interest accruing on all current and future Canada Student Loans and Canada Apprentice Loans in repayment starting April 1, 2023. This will not affect interest previously accrued.
The PBO estimates eliminating interest accruing on Canada Student Loans and Canada Apprentice Loans will generate a 5-year total cost of $2.7 billion.